First-Time Home Buyer Mortgage

Buying a home can be a long, stressful process...especially if it's your first one! If you're ready to become a first-time home owner, turn to your friends at the Credit Union and our First-Time Home Buyer Mortgage.*  

Designed with you completely in mind, the First-Time Home Buyer Mortgage offers a number of benefits on top of the great loan rates and personalized member service you expect at your Credit Union. You will benefit with:

  • Up to 100% Financing
  • No Down Payment Necessary
  • No PMI
  • No Origination Fees or Lender Closing Costs!

What Does This Mean?

With the First Time Home Buyer Mortgage, the Credit Union will also be offering you for the first time 100% financing on your mortgage. Essentially, this means that the Credit Union will provide you with 100% of the loan you are applying for.* Furthermore, this means that you may not be obligated to pay any money upfront (no down payment). 

Finally, the most exciting and important feature of the First Time Home Buyer Mortgage is the savings! With this mortgage, you will not be required to pay PMI, or Private Mortgage Insurance*. Traditionally, lenders add this extra monthly bill to homeowners who do not possess at least 20% equity in their home (at least 20% of their house paid off). However, your Credit Union will waive this fee entirely which saves years of monthly payments and thousands of dollars.

In addition, this mortgage will also waive origination fees (a fee to complete your loan transaction) and the appraisal fee (The process of valuing the home as a result of evaluating the neighborhood and its amenities by an authorized person [the appraiser]).


Make the smart move!

Get started by applying online or call 877-269-4179 to speak directly to a Credit Union representative who is looking to benefit you today. Looking for more education on mortgages? Learn more by watching our videos or read our blog post!

*First-time Homebuyer Home Loan program available to members with no homeownership within past three years. Valid only on single family, 1-4 story condo and townhome unit owner-occupied properties. Maximum 97% LTV for condo; all loans require escrow for property taxes, homeowners insurance, PMI, and flood insurance, if applicable. No lender closing costs; member is responsible for all title/recording fees, escrow reserve, and initial interest. All loans subject to approval. Membership eligibility required. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. 

 

Searching for your first home? We will point you in the right direction!